A method is disclosed for making hydroxy-substituted ethynylated biphenyl compounds and for reacting such compounds with a family of noncross-linking thermosetting poly(arylene ethers) to produce novel poly(arylene ether) compositions which, when cured at glass transition temperatures greater than about 350.degree. C. to form thin films, possess properties such as low dielectric constant, low moisture absorption, and high thermal stability. These films are suitable for use as intermetal dielectrics for multilevel interconnection.